Elon Musk Losses N3.62 Trillion as Twitter Shareholders Finally Approve Acquisition Deal

Date: 16-09-2022 5:14 pm (2 months ago) | Author: kacy lee
- at 16-09-2022 05:14 PM (2 months ago)
Online (f)

Elon Musk, CEO of Tesla, lost a whopping N3.62 trillion on Tuesday after investors dumped the company’s stock following reports that Twitter shareholders had approved his acquisition offer.

Investors sold the stock for as little as $292.13 per share, a -4.04% decrease from the $304.42 per share sold on Monday. As a result, Musk lost $8.3 billion, and his wealth fell by -3.03%, lowering his total net worth to $265.6 billion.

Tesla shareholders selling their shares may be linked to Musk selling around $8 billion in Tesla stock to fund the deal, and with the shareholders approving his offer, Musk may be forced to sell more shares as Twitter has dragged the billionaire to court to ensure he buys the social media company as agreed.

Their vote is a setback for Musk because it comes at a time when the Tesla majority shareholder is attempting to withdraw from the $54.20 per share offer, representing a total of $44 billion. Twitter’s market capitalization is currently $31.94 billion.

The court case is set for October 17. Still, before the shareholders’ decision, Musk had also attempted to get out of the deal last week by accusing Twitter of breaching their acquisition contract.

Musk said the company paid whistleblower and hacker Peiter Zatko, $7.75 million after the former Security chief released an 84-page whistleblower complaint disclosing the lapses of the social media company.

He explained that not informing him before the payment was made is a breach of court, but Twitter described his statement as “invalid and wrongful.”


Posted: at 16-09-2022 05:14 PM (2 months ago) | Addicted Hero
- gogoman at 16-09-2022 05:21 PM (2 months ago)
(m)
Be careful, be very very CAREFUL!!!!!!!!!!!!
Posted: at 16-09-2022 05:21 PM (2 months ago) | Grande Master
Reply
- titobenja at 17-09-2022 07:56 AM (2 months ago)
(m)
BIG MAN WAHALA (B.M.W) THE RICH ALSO CRY.
Posted: at 17-09-2022 07:56 AM (2 months ago) | Gistmaniac
Reply

fire TRENDING GISTS fire

TODAY'S TOP
  1. Photos: Asiwaju Tinubu Dumps Arise Town Hall Meeting, Meets Gbajabiamila, El-Rufai In London

  2. Iran Disbands Morality Police As It Bows To Pressure

  3. Police Debunks Assassination Attempt On Senator,Arrests Suspects Who Invaded His House In Minna

  4. World Cup: Brazil Star, Neymar Returns To Face South Korea In Round Of 16 Duel

  5. 2023: ‘Next President Must Come From South’ – Obasanjo Dumps PDP Candidate, Atiku

  6. Nkechi Blessing’s Ex-Lover, Falegan, Reacts to Her Twerking For Ooni Of Ife

  7. Cardi B Slams Trolls With $1m She Received After Her 35 Minute Performance From A Private Event

  8. "Men Who Refuse Polygamy Contributing To Prostitution" – Politician, Ned Nwoko Speaks

  9. Actresses, kate Henshsaw And Zainab Balogun Unveiled As Hosts Of The Voice Season 4

  10. 2023: "Nigerians Deserve To Know Our Health Status"- NNPP, Kwankwaso To Atiku, Others

  11. Singer, Harrysong Gifts Himself Two Brand New Cars For Christmas

  12. Burning Of Akinrun, Aree Palaces: "I Will Go After Perpetrators" – Oluwo Of Iwo

  13. Gunmen Reportedly Abduct Benue State Commissioner, Agbo Ode & Three Others


THIS WEEK
  1. SAD: How Wall Gecko Allegedly Wipes Out Family Of Six In Ogun

  2. 2023: "Why Peter Obi Should Step Down For Tinubu" – Socio-political Activist, Deji Adeyanju

  3. Rufai Oseni of Arise TV In Messy Scandal After he Threatened to 'Take Out' Reno Omokri

  4. VIDEO: Moment Police Arrested Notorious Cultist 'Confidence' Behind Multiple Murders in Lagos

  5. Lady Shares Video Of How She Caught Her Hubby In Bed With Her Sister 4 Days After Their Wedding

  6. Unapproved Phones In Nigerian Markets To Be Avoided As Listed By NCC

  7. BATTERY LOW! Bola Tinubu Jets To London; Ignores Arise News Invite For Town Hall Meeting

  8. Destiny Etiko’s Adopted Daughter, Chinenye Speaks Up Amid Claims of Clash With Actress (VID)

  9. 2023: Aggrieved APC House Of Rep Speaker, Dogara Endorses Atiku For Presidency

  10. Ned Nwoko Reacts to Ooni of Ife Having Numerous Wives, As He Reveals His Favourite Wife


TOP MEMBERS: